Eco2 and Greencoat Capital sign management contract for world-first low-carbon greenhouses

Renewable energy asset managers Eco2 have signed a contract to manage two giant low-carbon greenhouses, the first of their kind in the world, on behalf of one of the UK’s largest clean energy funds, Greencoat Capital.

The two enormous greenhouses, located near Norwich and Bury St Edmunds, together cover more than 29 hectares and are capable of producing 12% of the country’s tomatoes, as well as cucumbers and peppers. They provide ideal growth conditions all-year-round for a range of crops requiring high temperatures and relatively low light. In a world-first for the decarbonisation of agriculture, the greenhouses make use of residual heat from Anglian Water’s nearby water recycling centres, to produce fruit and vegetables with only 25% of the carbon footprint of standard greenhouses.

The new management services agreement deepens the relationship between Eco2, a leading UK renewable energy asset manager based in Cardiff, and Greencoat Capital, the UK’s leading listed renewable infrastructure fund. Eco2’s asset management portfolio already includes two of Greencoat’s biomass renewable energy plants, in Templeborough in Yorkshire, and Sleaford in Lincolnshire.

Eco2 has led the commercial deployment and management of several new green technologies over the last two decades. Eco2’s diverse experience in wind, solar, biomass, AD, and EfW, means it can apply its expertise to novel low-carbon projects, such as the low-carbon greenhouses, as well as established technologies.

Dr Andrew Toft, Operations Director at Eco2, said:

“Eco2 is delighted to sign this new Management Services Agreement with Greencoat Capital, to take on the technical and commercial management of two world-first low-carbon greenhouse projects. These projects integrate water source heat pumps, combined heat and power gas engines and advanced greenhouses in sustainable projects that balance high efficiency CHP technology with carbon capture and renewable heat. Eco2 is delighted to play such an important role in the ‘greening up’ of a diverse range of sectors, including in agriculture.

“The continued faith in Eco2 shown by Greencoat is a testament to the great work done by our teams that support our Management Services Agreements at Templeborough and Sleaford.”